Bill > H0841

This bill modifies Florida's insurance regulations to provide additional protections for property owners after hurricane damage. Specifically, the bill prohibits insurers from canceling or not renewing personal or commercial residential property insurance policies for a specified period after hurricane or wind damage. The bill expands these protections to include flood damage in certain circumstances, allowing policies to be extended for one renewal period if the property has not been fully repaired. Insurers are now required to provide at least 45 days' advance written notice (and email notice if an email address is available) before canceling, not renewing, or changing rates on homeowner's insurance policies. The bill allows for some exceptions to these rules, such as cancellation for non-payment of premiums or if the insured no longer has an insurable interest in the property. The Commissioner of Insurance Regulation is given the authority to waive certain provisions in cases of potential solvency concerns. The bill also establishes specific criteria for determining when a damaged structure is considered "repaired," including certification by licensed professionals like home inspectors, contractors, engineers, or architects. The new regulations will take effect on July 1, 2025, and are designed to provide additional stability and protection for property owners in hurricane-prone areas.

Business and Industry

https://www.flsenate.gov/Session/Bill/2025/841